Legal & General Asset Management has placed more than £50 billion ($68 billion) of liquidity funds on blockchain infrastructure via Calastone’s Tokenised Distribution Network.
The move allows money market-style funds to be issued, traded and settled as tokenised shares, enabling same-day settlement across dollar, euro and sterling-denominated products.
Investors can now buy, hold and transfer tokenised fund units within a permissioned network, with initial deployment on Ethereum and additional chains planned.
“We are thrilled to make our liquidity funds available on the Calastone Tokenised Distribution Network,”
Said Ross McDonald, liquidity investment specialist at Legal & General.
The system handles token creation, order routing, trade aggregation and reconciliation while integrating with existing fund administration infrastructure.
The rollout aims to expand investor access to short-term funds while improving settlement speed and operational efficiency through blockchain rails.
Calastone said the launch demonstrates how tokenisation can modernise traditional fund structures while maintaining regulatory oversight and controlled access.